Here’s the Carlsbad Market Report for May 2022. Check out the Carlsbad Market Report for April 2022 as a comparison.
You can read more about Carlsbad, CA here!
119 homes sold in May, 6% fewer than in April! Here are the details:
68 Single Family Homes Sold (down 4). Average Days on Market was only 7. The Average Sales Price was $1,819,394 (down 13%). Average Sales Price was 107% of the original asking price.
51 Condos, Townhomes & Duplexes Sold (down 4). The Average Days on Market was 11. Average Sales Price was $1,039,383 (up by 8%). The Average Sales Price was 106% of original list price.
Overall Carlsbad home sales for May decreased modestly from April. There were fewer single family home sales, and fewer condo, townhome and duplex sales. The average sales price was lower for single family homes, but higher for condos, townhomes and duplexes.
Sales prices in May ranged from $329,000 to $3,750,000. Average marketing time was shorter for single family homes at just 7 days. Marketing time for condos, townhomes, and duplexes was also shorter, at 11 days.
Looking back at May 2021, there were 31% fewer sales of single family homes. And 4 fewer condos, townhomes and duplexes sold in May 2022. The average sales price year over year was 23% higher for single family homes. The median price for single family homes was 22% higher. The average price was 29% higher for condos, townhomes and duplexes. And the median price was 22% higher in May 2022.
Many buyers made quick decisions to tour homes and submit successful offers. However, over half the homes (59%) were pending in 7 days or less! Thus it’s important to be prepared to move quickly to compete successfully in today’s Carlsbad housing market!
Some Carlsbad buyers negotiated their home purchase prices. However, 3 out of 4 buyers (76%) paid more than asking price. This is a good indicator of competition, and important to remember when making offers.
The median sales price for single family detached homes was $1,730,000, down 11% from April. The median price was $875,000 for condos, townhomes and duplexes, 3% lower than last month.
Inventory at the beginning of May (149) was 46% higher than April, and more good news for buyers. List prices range from $465,000 to $8,799,999. The Carlsbad inventory remains limited relative to buyer demand, but improved again in May.
There is a 1-month supply of condos, townhomes, and 1.4 months for single family homes. This is based on the rate of sales over the last 3 months. Carlsbad continues to be a very strong sellers’ housing market.
169 new listings came on the market in May, compared to 144 last month. Similarly 126 homes went pending (excluding homes that closed), up 33% from April. It was a busy housing market in May.
NEXT STEPS?
This overview of the Carlsbad housing market is based on data provided by the MLS. I can provide more details regarding current activity, as well as for Carlsbad neighborhoods that interest you.
Please reach out directly or via text at (760) 840-1360 to discuss your housing needs, timing, lifestyle, budget, and questions. Together we can develop an effective plan to buy a new Carlsbad home, and/or sell your current Carlsbad home.